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The global ferrosilicon market reached a value of US$ 11.60 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 13.66 Billion by 2027, exhibiting a CAGR of 2.56% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Ferrosilicon (FeSi) refers to an alloy of iron and silicon that is industrially produced by reducing sand or silica in the presence of iron at very high temperatures. It is widely used in the reduction of metals from their oxides and in the deoxidization of steel and other ferrous alloys to prevent the loss of carbon from molten steel and other materials. It is also employed in electrode coatings utilized in arc welding and in the manufacturing of iron, steel, and other ferroalloys. It has excellent strength, resistance to corrosion, abrasion and temperature, high specific gravity, and magnetism. As a result, ferrosilicon finds extensive applications in metallurgy, construction, automotive, semiconductors, chemical processing, and solar energy.
Ferrosilicon is extensively utilized for inoculation, graphitization, and modification in the casting industries. As a result, the escalating demand for steel and iron from various end use sectors represents the primary factor driving the market growth. Additionally, the growing usage of semiconductors in electronic devices is augmenting the demand for ferrosilicon for manufacturing semiconductors. Besides this, the shifting preferences toward corrosion-resistant materials for enhanced quality in construction and automotive industries, along with the rising demand for electric steel to manufacture motors, transformers and other power generation devices, are accelerating product adoption rate. Furthermore, ferrosilicon is widely used in the production of electric steel to improve the electrical resistivity of steel. Moreover, the governing agencies of various countries are taking favorable initiatives for infrastructure development and making heavy investments in the steel industry, which is propelling the market growth. Other factors, including rapid urbanization and industrialization, surging sales of high-end vehicles, increasing construction activities, and growing demand for consumer electronics, are also providing a positive outlook to the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global ferrosilicon market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, application and end user.
Breakup by Type:
Breakup by Application:
Breakup by End User:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being China National Bluestar (Group) Co. Ltd. (China National Chemical Corporation), DMS Powders, Eurasian Resources Group, Ferroglobe PLC, Finnfjord AS, Hindustan Alloys Private Limited, Indian Metals & Ferro Alloys Limited, Maithan Alloys Limited, Mechel PAO, OM Holdings Ltd. and Westbrook Resources Ltd.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Application, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||China National Bluestar (Group) Co. Ltd. (China National Chemical Corporation), DMS Powders, Eurasian Resources Group, Ferroglobe PLC, Finnfjord AS, Hindustan Alloys Private Limited, Indian Metals & Ferro Alloys Limited, Maithan Alloys Limited, Mechel PAO, OM Holdings Ltd. and Westbrook Resources Ltd.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global ferrosilicon market was valued at US$ 11.60 Billion in 2021.
We expect the global ferrosilicon market to exhibit a CAGR of 2.56% during 2022-2027.
The widespread consumer preferences for corrosion-resistant materials, such as ferrosilicon, for enhanced quality across the construction and automotive sectors, are primarily driving the global ferrosilicon market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for ferrosilicon.
Based on the application, the global ferrosilicon market has been segmented into deoxidizer, inoculant, and others. Currently, deoxidizer holds the majority of the total market share.
Based on the end user, the global ferrosilicon market can be divided into carbon and other alloy steel, stainless steel, electric steel, cast iron, and others. Among these, carbon and other alloy steel segment exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global ferrosilicon market include China National Bluestar (Group) Co. Ltd. (China National Chemical Corporation), DMS Powders, Eurasian Resources Group, Ferroglobe PLC, Finnfjord AS, Hindustan Alloys Private Limited, Indian Metals & Ferro Alloys Limited, Maithan Alloys Limited, Mechel PAO, OM Holdings Ltd., and Westbrook Resources Ltd.
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